THE CONDO BOOK PROJECT

708 Degraw Street Condominium

708 Degraw Street, Brooklyn, NY 11217

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Overview

708 Degraw Street is a 3-unit condo in Brooklyn.

  • Offering plan: Accepted January 2022 · 307 pages · floor plans on page 32
  • Finishes: Hardwood floors, quartz kitchen countertops, wood cabinets, Thermador appliances, washer/dryer hook-ups, Grohe bathroom fittings and split-system units for heating and cooling
  • Prices: $1,842 a square foot on average, as first offered; $6.55 million in all ($6.3 million when first offered)
  • Sponsor: Habitat On Degraw LLC, represented by Jeffrey Zwick & Associates, P.C.; principals Eli Scharf
  • Neighborhood: Park Slope, Brooklyn
  • Subway: 4-minute walk to Union St (R); 9 minutes to Bergen St (2, 3)
  • Amendments: 2, the latest in July 2023
  1. SubmittedJune 2022
  2. AcceptedJanuary 2022
  3. 2 amendments
  4. First sale
  5. Latest sale

Sales

3 of 3homes sold (100%)
Every sale: 3 homes, with price and dateSee it free →

From city records (ACRIS), through Nov 30, 2023.

First-Year Budget

From our research: NYC Co-op and Condo Tax Abatement: Is It Worth Paying Prevailing Wage? (Board Calculator)

Ask Claude or ChatGPT: How do 708 Degraw Street's common charges compare with similar buildings? →

Property Taxes

The plan's first-year tax estimate, checked against the city's real bills.

Each home's estimate, city bills and tax breaksSee it free →

Closing Costs

The buyer pays the NYC and NY State transfer taxes, which a seller usually pays.

All 6 closing costs in the plan, with their pagesSee it free →

Amendments

Amendment 2 Jul 28, 2023

Amendment discloses post-closing events including first unit closing, certificates of occupancy and condominium declaration, sponsor relinquishment of board control, and that all units have been sold.

  • First unit closed on September 23, 2022
  • Initial TCO issued September 9, 2022 (TCO #3019554); Final CO issued July 5, 2023
  • Declaration of Condominium recorded June 15, 2022 (CRFN #2022000238937)
  • Working capital $2,751.77 and reserve fund $305.75 deposited at Chase Bank
  • Sponsor relinquished board control on December 21, 2022
  • All units sold; no unsold units remaining

Amendment 1 May 9, 2022

Plan declared effective, unit prices updated, and Unit 1's front yard converted to common element with easement for meter access.

  • Plan declared effective May 9, 2022 with 2 units (Units 2 and 3) representing 66% of units sold
  • Unit 1 price: $2,450,000
  • Unit 2 price: $1,655,000
  • Unit 3 price: $2,450,000
  • Unit 1 front yard converted from private to Common Element
  • Unit 1 owner grants easement through vestibule to other unit owners for electric meter access and maintenance
  • Schedule A prices increased for 3 homes (median +4.3%): 1 $2,350,000 → $2,450,000; 2 $1,550,000 → $1,655,000; 3 $2,400,000 → $2,450,000
What each amendment changed, line by lineSee it free →

Team

Sponsor
Habitat On Degraw LLC
Principals
Eli Scharf
Tax estimate
Empire Consulting Services, Inc.Prepared the first-year real estate tax projection
Construction lender
ICE Lender HoldingsLender on the mortgage and building loan agreement recorded October 2021 in ACRIS; $3.7 million recorded
Buyer's lender
CrossCountry MortgageThe sponsor's preferred mortgage lender; you can use another · Named on p. 7

From our research: What Does a Title Agency Do, and How Do You Pick One for a NYC Condo?

Zoning

Zoning district
R6B

Today's zoning, from city data (PLUTO 26v2).

Nearby

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The Condo Book Project Are 708 Degraw Street's common charges high for the area? No, they're on the low side. 708 Degraw Street budgets $0.42 per square foot a month, against a $0.46 median for the 10 most similar Brooklyn plans.Schedule A Do you want to see the list of similar buildings?